Biggest Innovation Since internet – Blockchains

AngelList co-founder Naval Ravikant sat down with Ethereum creator Vitalik Buterin at Disrupt SF. The topic of conversation was cryptocurrencies and blockchains. Key takeaway: Blockchains are the biggest technological breakthrough since the Internet.

What is a Blockchain?

Vitalik defines it is as “a decentralized system that contains some kind of shared memory.” It’s a public ledger showing all the transactions of the cryptocurrency. Here’s a visual demonstration.

Blockchains are the Internet protocols for allocating scarce resources. Today, you can use all the server power you want by paying AWS. In the future, you’ll use a decentralized network for digital storage where people can rent out their spare capacity in exchange for a digital token payment.

Over time, we may even see solar grids, electric grids, self-driving car grids, and other decentralized networks in the real-world that will be controlled and administered by blockchain without human intervention.

“With blockchains we are going to decentralize all the things” – @naval

Blockchain products people are working on:
• Blockstack is creating a gateway to a new, decentralized internet
• Toshi is Coinbase’s mobile browser for the Ethereum network
• 21.co replaces your public email with an inbox that pays you

Working as a full stack and DevOps in Dehaze.io remotely. He loves to write about technology, tips tricks, and guides. He loves WordPress when not coding he can be seen watching movies playing games or listening to songs.